Transurban wins bid for majority WestConnex ownership

Company News

by Rachael Jones

Transurban (ASX:TCL) is ready to sign the WestConnex deal as it announce today a planned equity raising of $4.2 billion.

The financial close of the acquisition is expected late September.

Transurban along with AustralianSuper, CPPIB and Tawreed Investments as Sydney Transport Partners have executed an agreement for a 51 per cent equity stake in WestConnex from the NSW Government for $9.3 billion.

They also plan to raise $600 million through a placement to certain STP consortium members.

Shares in Transurban, (ASX:TCL) are on trading halt, last traded at $12.06
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.